Friday, April 24, 2009

No Surprise to These Readers

"SHANGHAI/BEIJING - China revealed on Friday that it had secretly raised its gold reserves by three-quarters since 2003, increasing its holdings to 1,054 tonnes - or a pot worth about US$30.9-billion - and confirming years of speculation it had been buying."
Reference: 1c) & Flowers and Weeds & Obama Troop Buildup

Follow the Bushbama drug money. We really need to start over in D.C., wipe the slate clean. And I loved this line:
"Gold prices jumped on the news of Chinese buying"
I think they meant, "on the news of finding 750 tons of secret supply." Total annual mining production is about 2,300 tons, that means almost 6 months worth of global gold supply just "appeared," dumped into the picture at $0/oz.

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